This article was automatically translated from HIBAPRESS, the Arabic version:
Hibapress
The compulsory primary market was marked, during the period from December 19 to 25, by a low lifting concentrated on the 52-week line, according to the recent “Fixed Income Weekly” note from BMCE Capital Global Research (BKGR).
During the last auction session, the Treasury only raised a single amount for a very small amount of 100 million dirhams (MDH) against a proposed total of 2.25 billion dirhams (MMDH), i.e. a rate satisfaction of only 4%, BKGR reports.
This operation led to a variation in the primary rate of this maturity of -12.9 basis points (bps).
On the secondary market, an overall downward trend was observed, particularly on the 52-week (-13 bps), 10-year (-5.9 bps) and 15-year (-7.5 bps) lines.
Pending the publication of the Treasury’s needs for the first months of 2025, the year ends in a climate of relative calm. The coming weeks promise to be more eventful with the confirmation of the new cycle of monetary easing.
